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Life Insurance Partner

SBI Life Insurance

SBI Life is one of India's largest private life insurers, distributing protection, savings and group products through the State Bank network's unmatched reach.

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Company Facts
Founded 2000

Operating in the Indian market since 2000

Mumbai

Registered and headquartered in Mumbai

Ownership

State Bank of India promoted, listed

IRDAI Registered

Licensed life insurer regulated by IRDAI

2000Founded
MumbaiHeadquarters
LifeInsurance Segment
IRDAIRegistered Insurer
Profile

About SBI

SBI Life is one of India's largest private life insurers, distributing protection, savings and group products through the State Bank network's unmatched reach. For employers it is a major writer of group term and employee benefit schemes.

Full NameSBI Life Insurance
SegmentLife Insurance
Founded2000
HeadquartersMumbai
OwnershipState Bank of India promoted, listed
Official Websitesbilife.co.in
Placement

Lines We Place With SBI

SBI Life leads our shortlists for group term at scale and credit-linked life cover, where State Bank parentage and reach keep large schemes administrable.

01
Group Term Life
Annually renewable group term schemes giving employees meaningful life cover at employer-negotiated rates.
02
Credit & Loan Cover
Group credit life that extinguishes outstanding loans if a borrower or promoter dies during the term.
03
Employee Benefit Schemes
Structured benefit programmes that help employers attract and retain talent.
04
Gratuity & Retirement Funding
Funding solutions for statutory gratuity and superannuation obligations.
05
Key Person Cover
Term protection on founders and critical executives, with sums insured matched to their economic value.
06
Promoter & Partner Protection
Buy-sell funding and partnership insurance so a death does not destabilise the shareholding.
Claims

Claims Track Record

98.34%of individual death claims settled in FY2024-25, by number of policies (44,949 claims)

By benefit amount the ratio was 95.26%. FY2023-24: 98.25%, FY2022-23: 97.05%. Ranked 18 of 22 life insurers on number of claims settled. Source: IRDAI Handbook on Indian Insurance Statistics 2024-25, Table 15, published by IRDAI on 3 February 2026. Claim settlement ratio of every life insurer in India.

Solvency ratio 1.96 as at March 2025, against IRDAI's minimum of 1.50 (1.96 a year earlier): whether it could still pay after a very bad year. Solvency ratio of every insurer.

Insurer selection at RFS is never based on a single metric. We weigh claims behaviour on risks like yours, wording quality, engineering support and pricing before recommending a market.

Want SBI on your shortlist?

Tell us about your risk and we will tell you honestly whether SBI is the right market for it, and at what terms.

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Insurer Network

More Insurers We Work With

HDFC Life Insurance
Life insurance partner in the RFS placement network.
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ICICI Prudential Life Insurance
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Axis Max Life Insurance
Life insurance partner in the RFS placement network.
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Company names and logos belong to their respective owners and are shown to identify insurers RFS places business with. RFS is an independent insurance advisory firm and is not affiliated with or endorsed by any insurer. Headquarters photo: State Bank of India offices, Bhubaneswar — Subhrasingh, CC BY-SA 4.0, via Wikimedia Commons.